Time-Shares/Donation of Timeshare

QuestionI have recently inquired about donating my timeshare in Virginia Beach (Beach Quarters) and contacted Donate for a cause. My intent is just to get rid of the yearly Maintenance fees since I live on the West Coast now and do not use it. They told me I had to pay 2500 to list and do the closings. This seems rather high, and doesn't allow me to break even after the tax write off. Even if I appraise it at 5000, I get a 1400 write off, costing me 1100. This seems like a reputable company but the fees seem rather high, Do I have any other options? Is the fee justifiable?

AnswerTony,

The fees are based off the non profit taking over the ownership and doing two real estate closings. Where some companies start at $7500 just to liquidate your timeshare and then go down from there, DFC has a set price that pays for two real estate transfers, marking and sales of the timeshare. The price also includes funds set aside in the event that the charity is "stuck" with the ownership and has to pay any maintenance fees. I do believe the fee is justifiable. I am the VP of Donate for a Cause. I started working for a timeshare developer and quit when I learned what the timeshares were really worth. I couldn't take peoples money when I knew they could get the same thing for pennies on the dollar. If I didn't think DFC was reputable, the fees justifiable, or the work they do to relieve timeshare owners of their burden, then I simply wouldn't work here.

Your other options would be to try to give it away on websites such as tug2.net, redweek.com, craigslist.org, etc. Just remember to price it competitively and never listen to someone who cold calls you who says they have a buyer already.

Experience

I have been in the industry for 7 years. I started selling timeshare for a developer in South Dakota. I then transitioned into the escrow side of the resale market and I am currently the VP of Sales and Marketing at Resort Closings, Inc. Resort Closings Inc is the largest timeshare escrow service in North America. It provides full service timeshare transfer as well as sales.

Education/CredentialsHigh School Diploma. 3 years of Higher Education.